Discovery upgraded to Outperform from Neutral at MacquarieMacquarie upgraded Discovery Communications to Outperform based on expectations the year could end with double-digit growth as management maximizes Eurosport's operating leverage, increased revenues from International, buybacks, and accretive M&A deals. Price target is $38.

21st Century Fox, Discovery held preliminary merger talks, AFR reports21st Century Fox (FOXA) executives met with their counterparts at Discovery Communications (DISCA) nearly two weeks ago to discuss a possible takeover offer, The Australian Financial Review reports, citing sources. According to the sources, discussions were "nascent" and talks are in the "very, very early days." A spokesperson for 21st Century Fox has denied talks took place. Reference Link